• Report: #501418

Complaint Review: Merchants Credit Guide Co, Pinnacle Credit Services

  • Submitted: Mon, September 28, 2009
  • Updated: Fri, October 02, 2009

  • Reported By: Angry09 — Royersford Pennsylvania USA
Merchants Credit Guide Co, Pinnacle Credit Services
223 W. Jackson Blvd Chicago, Illinois United States of America

Merchants Credit Guide Co, Pinnacle Credit Services Pinnacle Credit Services Claiming to collect a 10 year old "debt". Claims it was from Pinnacle Credit Services Chicago, Illinois

*Consumer Suggestion: A dispute in writing is the best way to go.

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I Received a letter from Merchants' Credit Guide Co. today.  The claim is allegedly from Pinnacle Credit Services for $2,059.76.  They also called and stated we had until the end of the month to settle for $617.93 or pay the full amount.  The only additional information provided is the original creditor is listed as Capital One.  Nobody in my household remembers having any credit of any kind with that company.


I asked them for written documentation and they wouldn't provide it unless I did in writing (after the deadline for their "deal").  I then asked them for the SOL, and they stated 01/16/2002.  They failed to acknowledge that the longest SOL available in PA is 6 years, but instead chose to hang-up on me when I pressed them on this detail.


This report was posted on Ripoff Report on 09/28/2009 05:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Merchants-Credit-Guide-Co-Pinnacle-Credit-Services/Chicago-Illinois-60606/Merchants-Credit-Guide-Co-Pinnacle-Credit-Services-Pinnacle-Credit-Services-Claiming-to-c-501418. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

A dispute in writing is the best way to go.

AUTHOR: Kevin - (USA)

MCG is a junk debt buyer.  They probably bought some debt with a name that sounds like yours attached to it, and now they are pushing you.  As you can see from other Rip Off Reports, these people are a bunch of unprofessional hacks.  I worked collections for a short time and even I think these people are just plain unethical.

They are right on one thing though.  The best way to dispute this claim is in writing.  The FDCPA (laws that govern collectors) does not require them to honor your dispute unless it is in writing.  Once they receive a written dispute, they may not pursue collections on the account unless they can provide proof that it is a valid account. 

The next time they call (or you can call them), ask for the account number and their address.  Inform them that you are disputing the account and then politely end the phone call.  Write a letter that states you are disputing the account, and make reference to the specific account number.  Send it via certified mail.  They may not contact you again except to say that received your letter unless they can validate the debt.  If they continue to call without validation, go ahead and get a lawyer or Attorney General involved.

It is also a good idea to check your credit report just to be safe, but it's probably just fine. 

The Statute of Limitations does not prevent them from attempting to collect on an old debt.  The expired SOL just means that they cannot use credit reporting or legal action anymore.  It is still legal for them to ask or persuade you to pay the debt.   

I hope this helps.  Good Luck!



  
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